Asset tagging or asset labelling as a practice has been around for many, many years, but it is surprising how many businesses still don’t take advantage of the benefits it can bring. As the size of a business increases, the benefits of asset tagging increase as well; however, businesses of any size still have plenty to gain by taking up the practice. Listed here are the top three reasons your business should implement Durable Asset Tags.

1. Cataloguing

Keeping a catalogue of all company assets is a great way of keeping things organised. This can be as simple as labelling each piece of IT hardware, with a unique number, and having a spreadsheet that lists these numbers (alongside any other relevant information). Some businesses go even further and employ detailed asset management systems where they can track everything related to a given asset, such as its purchase price, remaining warranty, geographical location and which employee it is associated with. This can go as specific as monitoring details about the asset such as technical specification. Using durable asset tags ensures the longevity of the identifier, and cuts out the need for constant replacement.

2. Security

A well maintained catalogue of company assets can greatly increase security. This is particularly relevant to IT assets, such as computers or mobile phones, where sensitive company data could be at risk. Being able to pinpoint which asset was involved in a security incident could greatly increase your chances of resolving the situation quickly with as little loss as possible. It can also help you identify which people are involved by being able to quickly see the people associated with that asset.

3. Traceability

As well as security benefits, asset tagging carries all the benefits of being able to trace back through the lifespan of any given asset. When a computer or company car changed hands, what site it was at located at and the cost to the business can all be tracked with a proper asset management system. Not only can this help businesses plan their spend, it can also be used by finance departments to track things like depreciation and even things like ongoing finance agreements.

These are only three of the key reasons that asset tagging is a worthwhile endeavour for any business, however your specific business may benefit in many other ways, depending on its size and number of assets. There really is no reason to not start tagging straight away!